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Dominion Bond Rating Service plans to establish its European presence by opening a London office in the next year and a half.

Eurohypo, the largest real estate lender in Europe, is building up its commercial mortgage-backed securitization capability with three new hires in London.

Investors have complained in 2004 that the distressed debt market is getting crowded.

This chart, provided by Citigroup Global Markets, tracks bid-ask prices for par credit facilities that trade in the secondary market. It also tracks facility amounts, ratings, pricing and maturities.

A bankruptcy court ruling this week on whether UAL Corp. secured lenders can repossess planes used as collateral could have major implications for bondholder rights in UAL bonds and the broader $30+ billion market for Enhanced Equipment Trust Certificates (EETCs).

--Rob Thomas managing director of the European Mortgage Finance Agency, on opposition to the now-defunct plan to create a European government-sponsored enterprise along the lines of Fannie Mae.

Egan-Jones Ratings expects to receive its designation as a Nationally Recognized Statistical Ratings Organization from the Securities and Exchange Commission within six months, according to Sean Egan, managing director.

Statement by the governor of the Bank of Japan before the Committee on Financial Affairs, House of Councillors

Commerzbank Securities plans to close its U.S. equity and credit derivatives desks by year-end.

Capital structure arbitrage is likely to come back into fashion next year because of expectations companies will start to releverage their balance sheets.

ABN AMRO has hired Daniel McNeill, equity derivatives structurer at Citigroup in London, in a similar role.